All posts tagged tmx

It’s official: Canada’s main stock market index hit correction territory on Tuesday, underscoring the heavy influence of resources on the wallets of the country’s investors.

A stock market correction is typically defined as a drop of 10% or more from the benchmark’s latest high. The S&P/TSX Composite index has breached that level, recently down about 1,665.60 points, or 10%, from its high of 15,783.10 on Sept. 11.

Energy and materials stocks, along with Canada’s big banks and insurers dominate the TSX index, representing a combined weighting of just over 71%. That’s good news when growth in the global economy is fueling demand and pushing prices higher for oil and gas, copper, fertilizer and other commodities. When signs point to excessive supplies, it’s not-so-good news for the index. Read More »

BlackBerry Ltd. won a preliminary injunction preventing Typo Products LLC from selling its keyboard iPhone case after a U.S. court ruled the product likely infringed on the patents of the Canadian smartphone maker. The news comes after the company’s fourth-quarter results released Friday raised concerns over the company’s ability to generate sales growth.

Encana Corp. said it has agreed to sell its Jonah field natural-gas properties in Wyoming to an affiliate of private-equity firm TPG Capital for about $1.8 billion. Read More »

Royal Bank of Canada’s investment-banking arm is said to be spearheading a plan for a new alternative trading marketplace for stocks, a move that would take aim at the core business of Canada’s flagship exchange operator, TMX Group Ltd.

RBC Capital Markets has dubbed its new venture “Camelot,” according to people familiar with the matter, and hopes to woo big institutional investors to the project as an incentive for them to use the marketplace.

The plan is a bold one for Canada’s relatively close-knit banking and financial sector. While Canada’s handful of big banks compete fiercely for market share in Canada for everything from mortgages to savings accounts, they also have tended to work closely together to protect their influence in Canada’s capital markets. Read More »

A little more than a year ago, TMX Group Inc. was on the cusp of being folded into its much larger–and seemingly more cosmopolitan–rival, the London Stock Exchange. That deal fizzled when a group of Canadian banks and pension funds swooped in with a better offer—at least that’s how it looked for TMX shareholders, who ultimately refused to approve the London tie up.

Today, the tables have turned dramatically. While those banks and pension funds still haven’t completely consummated their deal–Alberta, British Columbia and Quebec still have to give it the final go-ahead–the deal has cleared some of its biggest obstacles, including recent approval by Canada’s federal competition bureau.

But TMX isn’t waiting around, and is now on the prowl itself. Read More »

Could it really already be a year since Maple started talking to TMX Group about a friendly acquisition?

Well, things got a lot closer to regulatory approval Wednesday.

Canada’s federal Competition Bureau, considered the toughest hurdle to the deal’s consummation, gave the transaction its blessing Wednesday. The Ontario Securities Commission, the country’s biggest securities regulator, did the same. But the deal is still waiting for a final O.K. from British Columbia, Alberta and Quebec. Read More »

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Canada Real Time provides insight and analysis into what’s making news in Canada, a country punching above its weight on the world stage thanks to its vast resources and strong banking sector. Drawing on the expertise of The Wall Street Journal and Dow Jones Newswires, we take a look at developments in fields ranging from business to politics to culture. You can contact the editors at canadaeditors@dowjones.com